Faith Schwartz

Troubled Borrowers Flood Help Line After Rate Freeze Announcement 

A phone hotline tied to the HOPE NOW consortium has seen call volume reach a record 45,000 calls in the three days after the Bush administration unveiled a streamlined mortgage modification program, according to a statement by the group on Tuesday. The 888-995-HOPE hotline, operated by the Homeownership Preservation Foundation, was cited several times by Treasury Secretary Henry Paulson and HUD Secretary Alphonso Jackson at announcements about the interest-rate freeze last Thursday. By Sunday, more than 45,000 callers had reached out to the toll-free numbers.